Archive for September, 2014

Newfield Exploration: Adding Springer Shale Oil To The Backlog

Continental Resources (NYSE:CLR) last week unveiled its Springer Shale discovery in the SCOOP area. Among several operators in the basin who will enjoy the upside from this promising play alongside Continental, Newfield Exploration (NYSE:NFX) will likely benefit the most “on a per share basis.” The play adds to the already formidable line-up of domestic oil […]

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Atlas Resource Partners To Enter Eagle Ford Shale Through Acquisition Of Oil Rich Production And Undeveloped Locations

Atlas Resource Partners, L.P. (ARP) to acquire 12 Mmboe of oil-rich reserves in the Eagle Ford Shale for $225 million — The oil production is expected to significantly increase distributable cash flow and further improve distribution coverage and leverage ratios — Undeveloped drilling locations to be acquired in the Eagle Ford are expected to provide […]

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Cabot snaps up more Eagle Ford acreage for $210M

HOUSTON – Cabot Oil & Gas Corp. said Wednesday it plans to pay $210 million to snap up 30,000 net acres in the Eagle Ford Shale, adding about a third to its overall land position in South Texas. The Houston energy producer said oil wells on the land pump about 1,600 barrels of oil equivalent […]

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BHP Billiton to cut petroleum capital spending by $279 million

HOUSTON — BHP Billiton, the Australian mining and oil giant, will cut capital spending in its petroleum division by $279 million in 2015, the company announced in its annual report Thursday. The trend follows that of other major oil and gas companies. Major producers including Shell, Chevron and Total have all announced plans this year plans…

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A UTICA SHALE UPDATE

The scope of this blog post is to take a quick snap shot of the recent activity in the core of the Utica Shale play of eastern Ohio and western Pennsylvania. Drillinginfo offers a suite of tools to gain this knowledge quickly and accurately. Well permitting is always a pretty good start; however, something to […]

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Black Elk execs depart, start new firm

HOUSTON – The man who founded and led Black Elk Energy, a Houston firm battered by a fatal 2012 explosion at one of its Gulf of Mexico production platforms, quietly left the company weeks ago to try his hand at pumping oil on dry land. Former Black Elk CEO John Hoffman said in an interview with […]

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Exxon’s Sanctions Hall Pass Undermines Anti-Putin Push

After Exxon (XOM) Mobil Corp. mounted a campaign to warn U.S. officials that prematurely halting work with Russian oil giant Rosneft on an exploratory oil well could foul the Arctic, the Obama administration last week gave the company a two-week reprieve from sanctions on Russia. The temporary retreat has handed Russia’s leaders a golden public relations opportunity, one […]

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How Rising Interest Rates Could Spell the End of the U.S. Energy Boom

The winding down of extraordinary measures taken by the U.S. Federal Reserve to ameliorate the effects of the financial crisis could reverberate through energy markets. The Fed has kept short-term interest rates near zero for several years, a target that the institution hoped would spur lending and kick start the moribund economy in 2009. With […]

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Attorney General Eric Holder to Announce His Resignation

U.S. Attorney General Eric Holder will announce his resignation on Thursday after heading the Justice Department for six years, according to the White House. Citing two sources “familiar with the situation,” NPR first reported that Holder will exit the U.S. Department of Justice as soon as his…

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Ryder Cup 2014: Schedule, pairings announced for Friday’s four ball matches

We now have the pairings for the opening session of the 2014 Ryder Cup. The format will be four ball, where each player plays his own ball into then hole and the best of the two smashes against the best of your opponent’s. Captains Tom Watson and…

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